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Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes.
Per’s QJAE article: https://Mises.org/HAP398a
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00:00 Introduction
00:27 Per Bylund vs. Stephanie Kelton
04:04 Reasoning Behind Dollar Value from Taxes
08:55 How Currency Has Purchasing Power
13:05 More Faults in Purchasing Power from Taxes Logic
20:10 Commodity Money and Government Money
25:12 MMT’s Backwards Logic Around Money Creation
35:40 Gresham’s Law and Legal Tender Laws
41:15 Historical Objections
46:42 What MMT Actually Does
55:42 The Inherent Violence of the Current System